Rhinebeck Bancorp (NASDAQ:RBKB) Shares Up 0.9% – Here’s Why

Shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) shot up 0.9% during mid-day trading on Friday . The company traded as high as $17.43 and last traded at $17.39. 146,030 shares were traded during mid-day trading, an increase of 291% from the average daily volume of 37,395 shares. The stock had previously closed at $17.23.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Rhinebeck Bancorp has a consensus rating of “Buy”.

Rhinebeck Bancorp Stock Up 0.9%

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $194.25 million, a PE ratio of 19.11 and a beta of 0.16. The firm has a 50-day moving average of $16.25 and a two-hundred day moving average of $14.67.

Rhinebeck Bancorp (NASDAQ:RBKB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.20 EPS for the quarter. Rhinebeck Bancorp had a net margin of 13.20% and a return on equity of 7.42%. The firm had revenue of $12.66 million for the quarter.

Hedge Funds Weigh In On Rhinebeck Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in RBKB. JPMorgan Chase & Co. bought a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Rhinebeck Bancorp during the 2nd quarter valued at about $29,000. Wells Fargo & Company MN grew its position in shares of Rhinebeck Bancorp by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock valued at $61,000 after buying an additional 1,602 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Rhinebeck Bancorp during the second quarter worth about $75,000. Finally, Barclays PLC raised its stake in Rhinebeck Bancorp by 12.1% during the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock worth $87,000 after acquiring an additional 778 shares during the period. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

Rhinebeck Bancorp Company Profile

Rhinebeck Bancorp, Inc (NASDAQ: RBKB) is the bank holding company for Rhinebeck Bank, a community-focused financial institution headquartered in Rhinebeck, New York. Through its subsidiary, the company offers a full range of banking services including personal checking and savings accounts, business deposit products, residential mortgage lending and consumer loans. Rhinebeck Bancorp leverages its local presence to provide tailored financial solutions and responsive customer service to individuals and small businesses throughout the Hudson Valley region.

The origins of Rhinebeck Bank trace back to the late 19th century, reflecting more than a century of service to Ulster, Dutchess and neighboring counties.